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Speech Analytics
Speech Analytics turns contact center conversations into actionable insights
Your contact center is a critical front line channel to assist and support members. Every conversation between your reps and members contains clues about the quality of the experiences your credit union delivers, but uncovering the meaningful pieces of information within thousands of calls can be a challenge. That’s where Speech Analytics can help.
How does it work?
Speech Analytics works by transcribing and then analyzing audio and video conversations to detect member sentiment, trends, and emerging issues. A combination of AI-based analytic capabilities can identify patterns and insights that may otherwise go unnoticed:
- Spectral-level speech analytics to detect talk/silence time, overtalk and vocal emotion
- Transcript-level text analytics to identify the reason for the call, themes/topics, member effort, sentiment and actionable suggestions
Identify issues and accelerate improvements
Call transcripts are full of information on the topics members call in about and why. Speech Analytics uses AI-powered text analytics to identify trends and patterns within individual calls and across contact center interactions. For example, are members getting stuck during a specific application process? Are cards being declined? Could a self-service tool provide assistance with common requests? This data can then be automatically routed to the appropriate team(s) for action.
Optimize operational efficiency
Through real-time analysis, Speech Analytics can detect the most common reasons for member calls, allowing credit unions to streamline call routing and handle times effectively. Receive detailed information on how well your contact centers are operating against key performance indicators, like first contact resolution and average handle time, down to the agent level. By understanding context for each call, you can quickly identify improvements for handling issue response.
Improve the performance of your representatives
Speech Analytics assesses four key attributes throughout conversations between your reps and members:
- Talk time
- Silence
- Overtalk
- Emotion
These speech attributes, along with the ability to identify strengths and weaknesses via text analytics, allow managers to note areas of needed improvement and provide targeted training and coaching.
Build on your existing CCaaS technology
Many credit unions already have Contact Center technology in place. However, CCaaS vendors typically handle data within the Contact Center only. Speech Analytics can enhance the output by capturing member data both inside and outside of the contact center and sharing it across teams (product, digital, executive, talent management, retail and more). This equips your credit union with clear insights to drive organization-wide change.
To learn more and see Speech Analytics in action, request a demo below.